Mylan (MYL): Cutting PT Despite Guidance Reiteration On Generic Visibility Worsening - RBC

November 10, 2016 6:52 AM EST
Get Alerts MYL Hot Sheet
Price: $34.60 -3.51%

Rating Summary:
    12 Buy, 12 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 21 | Down: 31 | New: 25
Trade MYL Now!
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

RBC Capital analyst, Randall Stanicky, reiterated his Sector Perform rating on shares of Mylan (NASDAQ: MYL) and cut his price target to $44 after the company missed 3Q revenue and EPS but reaffirmed full year as well as the 2018E target of $6.00 - 2017 outlook will be delivered at the analyst call in Feb.

The call was focused on generic outlook and MYL's insistence on steady mid-single digit erosion and shelter from peer-related competitive headwinds. The analyst stated "we do think MYL has a more defendable business given breadth, diversification and scale but we also think that (i) 2017 generic sector visibility is worsening in general (with MCK/WMT bid cycle ahead) and (ii) competitive pressures are increasing and that, combined with declining Epipen contribution, will add pressure to MYL's consolidated margin in 2017".

The new $44 PT is down from $48.

For an analyst ratings summary and ratings history on Mylan click here. For more ratings news on Mylan click here.

Shares of Mylan closed at $38.92 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Analyst Comments, Analyst EPS Change, Analyst PT Change, Earnings

Related Entities

RBC Capital

Add Your Comment